Maybank and CIMB shares rose 1.5% and 1.8% respectively last week, driving a strong performance in the banking sector. Investors are optimistic about their robust earnings outlook and dividend distribution capabilities.
Major Malaysian blue-chip stocks showed mixed performance last week, but the banking sector emerged as a bright spot. Malayan Banking Bhd (Maybank) saw its share price climb 1.5% to RM9.85 per share, while CIMB Group Holdings Bhd rose 1.8% to RM6.70 per share. Tenaga Nasional Bhd edged down 0.5% to RM11.20 per share, and Petronas Gas Bhd gained 0.3% to RM18.10 per share. Analysts believe the strong performance in banking stocks is attributed to market confidence in economic recovery and expectations of improved net interest margins for banks. Despite global economic uncertainties, domestic demand for Malaysian banking services remains robust. Banks are expected to report encouraging results in the upcoming earnings season and may maintain or increase dividend payouts, further attracting investors.
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